Trump tariffs drove a Treasury sell-off — who sold the safe-haven asset?
The U.S. Treasury market over the past week saw investors fleeing the safe haven, in an unusual move that added to the market turmoil caused by U.S. President Donald Trump’s “reciprocal” tariffs — forcing him to suspend the duties.
In just a few sessions, yield on the 10-year Treasury soared to 4.592% on Friday, the highest since February. Similarly, the 30-year Treasury bond yield notched its highest since November 2023 last Wednesday. While yields have ticked lower since then, they still remain elevated.
